Federated Hermes Inc. boosted its holdings in shares of Kirby Co. (NYSE:KEX – Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,664 shares of the shipping company’s stock after buying an additional 5,363 shares during the quarter. Federated Hermes Inc. owned 0.22% of Kirby worth $9,177,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in KEX. VELA Investment Management LLC grew its position in shares of Kirby by 2.6% in the 1st quarter. VELA Investment Management LLC now owns 131,397 shares of the shipping company’s stock valued at $9,158,000 after buying an additional 3,331 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of Kirby by 0.7% in the 1st quarter. Treasurer of the State of North Carolina now owns 26,097 shares of the shipping company’s stock valued at $1,819,000 after buying an additional 190 shares during the last quarter. Barclays PLC grew its position in shares of Kirby by 61.5% in the 1st quarter. Barclays PLC now owns 23,045 shares of the shipping company’s stock valued at $1,606,000 after buying an additional 8,779 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Kirby in the 1st quarter valued at $775,000. Finally, Ziegler Capital Management LLC grew its position in shares of Kirby by 0.9% in the 1st quarter. Ziegler Capital Management LLC now owns 126,604 shares of the shipping company’s stock valued at $8,824,000 after buying an additional 1,190 shares during the last quarter. 94.14% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
KEX has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Kirby from $83.00 to $85.00 in a research report on Friday, April 28th. StockNews.com initiated coverage on shares of Kirby in a research note on Thursday, May 18th. They set a “hold” rating for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Kirby currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.75.
Kirby Trading Up 0.8 %
NYSE:KEX opened at $82.88 on Friday. The business’s 50-day moving average is $77.00 and its two-hundred day moving average is $72.87. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.18. Kirby Co. has a 12 month low of $57.64 and a 12 month high of $83.45. The firm has a market capitalization of $4.93 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27.
Kirby (NYSE:KEX – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The shipping company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.83 by $0.12. The company had revenue of $777.20 million for the quarter, compared to analyst estimates of $781.18 million. Kirby had a return on equity of 5.82% and a net margin of 5.81%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. Research analysts predict that Kirby Co. will post 3.67 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Kirby news, VP Scott P. Miller sold 6,315 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $82.81, for a total value of $522,945.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Scott P. Miller sold 6,315 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $82.81, for a total transaction of $522,945.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Dorman Lynn Strahan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $82.46, for a total transaction of $206,150.00. Following the transaction, the insider now owns 19,313 shares in the company, valued at approximately $1,592,549.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,388 shares of company stock worth $1,992,685. Corporate insiders own 1.50% of the company’s stock.
Kirby Company Profile
Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
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